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Answer on Economics of Enterprise Question for Ke_091

Question #11260
Prepare a cash budget for three months ending on 30th June, 2012 :

Month Sales Materials Wages Overheads
February 14,000 9,600 3,000 1,700
March 15,000 9,000 3,000 1,900
April 16,000 9,200 3,200 2,000
May 17,000 10,000 3,600 2,200
June 18,000 10,400 4,000 2,300
a Credit terms are:
Sales and debtors –10% of sales are on cash, 50% of credit sales are collected in the next month and the balance in the following month:
Creditors Materials 2 months Wages ¼ month Overhead ½ Month
b Cash and bank balance on 1st April, 2012 is expected to be 6000
c Other relevant information are:
1 Plant and Machinery will be installed in February 2012 at a cost of 96000. The monthly installments of 2000 is payable from April onwards
2 Dividend @ 5% on Preference Share Capital of 200000 will be paid on 1st June
3 Advance money is to be received from sale of vehicle of 9000 in June
4 Dividends from investments amounting to 1,000 are expected to be recieved in June
5 Income tax(advance) to be paid in June is 2000
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